104.3 million tons of wheat in Russia

Prices fell yesterday on the Euronext/Matif. December and the follow-up contract in March closed at a closing price of EUR 334.25/t each. On the local cash markets, sales continued to be quiet in the middle of the week, here and there fodder wheat is in demand, but the producer side is less inclined to sell goods due to the recent price setbacks. The euro surpassed the USD 1 mark for the first time in more than a month yesterday, which also weighed on sentiment on Euronext. In Russia, the Ministry of Agriculture published a first interim report on this year's grain harvest. With a harvest progress of 99%, 104.3 million tons of wheat and 24.3 million tons of barley were harvested. This means that the yields are around a third higher than the results of the previous year and represent a new record. Things went uphill for wheat at the CBoT. reduced production estimates by the grain exchange in Buenos Aires for the current season are responsible for this. The drought in the South American country means that the expectation is another 1.3 million tons lower, instead of the previous 15 and 13.7 million tons of wheat harvest. Green signs are also showing on the eCBoT before the trading day.